President Trump ramped up his call for Fed Chair Jerome Powell to lower interest rates after a new report showed sluggish hiring in May.

Key Takeaways U.S. private employers added 37,000 jobs in May, down from 60,000 in April and reaching a two-year low, according to payroll provider ADP.Economists usually take ADP's figures with a grain of salt and expect the more widely watched Bureau of Labor Statistics jobs report Friday to show healthier job growth.

President Trump on Wednesday reiterated calls for Federal Reserve Chair Jerome Powell to lower interest rates, leaning on data that found May saw the fewest private sector jobs added than any month in the past two years.